CBSE Class 10 Social Science Board Exam 2020: Important Questions & Answers - Economics (Chapter 2: Sectors of the Economy) 

Check this article for important questions and answers from chapter 2 of Economics Textbook for CBSE Class 10th Social Science Board Exam 202

Created On: Mar 6, 2020 15:37 IST
Chapter 2: Questions & Answers
Chapter 2: Questions & Answers

CBSE Class 10th Social Science Exam is scheduled for 18th March 2020. The social science syllabus is divided into 4 subjects: History, Civics, Geography, and Economics. Students appearing for the exam should prepare each subject well as questions are asked from all the subjects. For revision of economics subject, students can go through this article for important questions and answers of Chapter 2 -Sectors of the Economy from Economics textbook. 

Ques 1 Show how the tertiary sector has emerged as the largest producing sector in India. 

Ans: Importance of the Tertiary Sector : 

  1. Basic services like hospitals, educational institutions, defense, and transport are part of the tertiary sector. 
  2. The development of agriculture and industry leads to the development of services 
  3. As the income level rises, tourism, shopping, private schools, and professional training also expands. People start demanding more services this leads to the expansion of the tertiary sector. 
  4. Information and communication technology also play an important role in this expansion. 
  5. A large number of workers are engaged in this sector, as the demand for services grows

Check Important MCQs from Chapter 2 of Economics (Sectors of the Economy)

Ques 2 Underemployment continues to be rampant in the rural areas. Suggest any three ways through which employment for rural people can be generated.

Ans: Employment generation i. i. People can be employed in projects like construction of dam/canal/ roads in the village. 

  1. The government invests and employs people in providing transportation and storage services. 
  2. People can be employed in services like banking, trade, etc. 
  3. The government can identify, promote industries and services in semi-rural areas to enhance employment. 
  4. The government can open centers to give them training and financial assistance to help them become self – employed.

Check Important Questions & Answers of Economics- All Chapters

Ques 3 Rohan works in a bank as a clerk while Sumit works on a construction site as a laborer. Describe the difference in their conditions of work and judge the benefits and drawbacks of working in the respective sectors.

Ans: Rohan works in an organised sector; he will enjoy the security of employment. He will be expected to work only a fixed number of hours. If he works more, he will have to be paid overtime by the employer. He will also get several other benefits from the employers like getting paid leave, payment during holidays, provident fund, gratuity, etc. He is supposed to get medical benefits and, under the laws, the bank manager has to ensure facilities like drinking water and a safe working environment. When he will retire, he will get a pension as well. 

In contrast, Sumit works in the unorganised sector which is characterized by small and scattered units which are largely outside the control of the government. There are rules and regulations but these are not followed. 

So, his job will be low-paid and often not regular. There will be no provision for overtime, paid leave, holidays, leave due to sickness etc. Employment is not secure. He can be asked to leave without any reason when there is less work, such as, during some seasons. A lot also depends on the whims of his employer.

Ques 4 Reema works as a shift technician in Mehta Textiles Ltd. whereas Shirin works as a Sales Executive in Kashvi Fashion Showroom. Identify the sectors of the economy in which Reema and Shirin are working. Evaluate the role of each of these sectors in the Indian economy

Ans: Reema works as a Head Technician in Mehta Textiles Private Ltd. whereas Shirin works as a Sales Executive in Kashvi Fashion Showroom. Identify the sectors of the economy in which Reema and Shirin are working. Evaluate the role of each of these sectors in the Indian economy. Reema works in Secondary or Manufacturing Sector whereas Shirin works in the Tertiary or Service Sector 

Role of Secondary/Manufacturing Sector – This sector covers activities in which natural products are changed into other forms through ways of manufacturing that we associate with industrial activity, hence it is also called as industrial sector. The product in this sector has to be made and therefore some process of manufacturing is essential, maybe in a factory, a workshop or at home. For example, using cotton fiber from the plant, spinning yarn and weaving cloth, etc. This sector provides large scale employment and helps in earning huge revenue. It helps in the development of a nation. 

Role of Tertiary/Service Sector – These are activities that help in the development of the primary and secondary sectors. These activities, by themselves, do not produce a good but they are an aid or support for the production process. For example, goods need to be transported by trucks or trains and then sold in wholesale and retail shops; they have to be stored in godowns. So, transport, storage, communication, banking, trade are some examples of tertiary activities. Since these activities generate services, the tertiary sector is also called the service sector. It also includes services of teachers, doctors, and those who provide personal services such as washermen, barbers, cobblers, lawyers, and people to do administrative and accounting works. In recent times, certain new services based on information technology such as internet cafe, ATM booths, call centers, software companies etc. have become important. The service sector contributes the most to the national economy these days and is further growing.

Ques 5 How do we count various goods and services for calculating the GDP of a country? Explain with example.

Ans: Gross Domestic Production: 

  1. GDP is undertaken by a central government ministry. 
  2. The value of all final goods and services produced within a country during a particular year calculated. 
  1. The value of final goods and services in the three sectors are calculated by the different government departments. 
  2. Any other relevant point. 

Ques 6 Distinguish between “primary” and “tertiary” sectors.

Ans: Distinguish Primary and Secondary Sector: 

Primary Sector. 

  1. Producing goods by exploiting natural resources. 
  2. Agriculture. 

Secondary Sector : 

  1. Activities in which natural products are changed into other forms through manufacturing. 
  2. Industries. 

Ques 7 Distinguish the service conditions of organized sector with that of unorganized sector. 

Ans: Service conditions of Organized and Unorganized Sectors- 

(i) Organized sector is registered by the government whereas, the unorganized sector is largely outside the control of the government. 

(ii) In organized sector the workers enjoy the security of employment whereas, in unorganized sector jobs are insecure, low paid and irregular. 

(iii)In organized sector, the numbers of working hours are fixed whereas in unorganized sector the numbers of working hours are not fixed. 

(iv) In organized sector workers get several benefits such as paid leaves, payment during holidays, provident fund etc, whereas in unorganized sector such facilities are not available. 

Ques 8 Distinguish between open unemployment and disguised unemployment.

Ans: Open unemployment is when a person has no job and no source of income. Disguised unemployment, on the other hand, is mostly found in the unorganised sector where either work is inconsistent or too many people are employed for some work that does not require so many hands. 

Ques 9 Service sector in India employs two different kinds of people. Who are these?

Ans: The service sector in India employs two different kinds of people. These are primary and ancillary workers. Primary workers include those who directly provide services while ancillary workers are those who give services to the service providers. For example, consultants make available their services to consultancy firms, etc.

Ques 10 Explain how the public sector contributes to the economic development of a nation.

Ans: The public sector plays a crucial role in contributing to the Human Development Index via its functioning in health and education services. Also, by buying food grains at a “fair price” from farmers, providing electricity, water, postal services at low rates, the government ensures that the people have a good living. It utilizes taxes and grants to pay for the same. Thus, it plays a vital role in adding to the economic development of a nation, based on its human development situation.

Class 10 Social Science Board Exam 2020: Check MCQs from Chapter 1 of Economics (Development)

CBSE Class 10 Social Science Question Paper 2019